China shares, Shanghai Composite Index, SSE closed its 11 August 2008 trading day down with 135.65 or 5.21 percent. Despite the Beijing Olympic 2008, investors hurried to the market and dumped everything they have and they can. This has spared the plunged of SSE for the second consecutive trading session.
The market sentiment of SSE has been very negative as many are anticipating the government of China to step in to aid or render some sort of assistance to the market. However, many were greatly disappointed and despair over the fact that nothing has came into light to salvage the current market situation.
Hang Seng Index, HSI was green at the earlier part of the trading session, but the positivity was being affected and HSI closed down by just 0.12 percent.
Most Asian markets were green. But the S-shares within Straits Times Index were affected by this discriminate selling over at SSE. With Hongxing Sports and Li Heng went notably down.
However, as far as the SSE market chart is concern, it has been greatly oversold and it is currently at its frsh 19-months low. Investors were not impressed by the ongoing hype with the Beijing Olympic and stocks relating to Olympic were the victim for this trading session.
Looking forward, based on the fact of this few trading days selling, I would believe that there will be a sudden rebound over at SSE, probably tomorrow on 12 August 2008.
Above are of personal opinion and not at all an inducement to trade.